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TEI Comments on Proposed Country-by-Country Reporting Regulations

On March 21, 2016, TEI submitted comments to the IRS regarding proposed regulations (REG-109822-15) that would require certain U.S. headquartered multinational enterprises to report financial and tax information to the IRS on a country-by-country basis. The Institute's comments focused on the need for the final regulations to be consistent with the final report on Action 13 of the OECD's base erosion and profit shifting (BEPS) project to minimize the administrative burden on businesses and permit flexibility in information reporting.

The comments were prepared under the aegis of TEI's U.S. International Tax Committee, whose chair is Mark Pollard. Benjamin Shreck, TEI Tax Counsel, coordinated the development of the Institute's comments.